Budget

BUDGET
SUBMITTED BY-
TANYA AGARWAL
PGP24261
SECTION A
CONTENTS
• VISION • CAN INDIA AFFORD TO GO ON NATURAL
• PRIORITIES FARMING EVEN AFTER SRILANKA’S
CONDITION?
• INCLUSIVE DEVELOPMENT IN
• INFRASTRUCTURE SECTOR
RELATION WITH G20 SUMMIT
• AGRICULTURE SECTOR
• ECONOMIC GROWTH-GDP
COMPARISION • CAPITAL EXPENDITURE AND ITS IMPACT
• TOURISM SECTOR
• GDP PER CAPITA COMPARISON
• EDUCATION SECTOR
• WHY IS INDIA ABLE TO ACHIEVE SUCH
• TAX SLABS-NEW TAX REGIME
7% EVEN AFTER COVID-19WHEN
OTHERS ARE IN RECESSION? • IMPACT OF LOWERED TAXES
• SUSTAINABLE DEVELOPMENT • WHERE MONEY COMES FROM?
ANALYSIS WITH G20 PERSPECTIVE • WHERE RUPEE GOES TO?
VISION
• Opportunities for Citizens with focus on Youth.

• Growth and Job Creation.
• Strong and Stable Macro-Economic Environment.
PRIORITIES- SAPTARISHI
• Inclusive Development.
• Reaching the last mile.
• Infrastructure and Investment.
• Unleashing the potential.
• Green Growth.
• Youth Power.
• Financial Sector.
INCLUSIVE DEVELOPMENT
IN RELATION WITH G20
SUMMIT
• G20 summit focused more on sustainable development or green growth

which in budget 2023 also proposed by government.
• In G20 Summit, UJJWALA Scheme was discussed which means providing
LPG connections to families and households. In budget 2023 9.6 Crore LPG
connections are given to households.
• In G20 Summit, acceleration of MSME Sector was discussed. In Budget 2023
there is a move to infuse 9000Cr. Into Credit Guarantee Trust for Micro and
Small Enterprises Scheme which will enable MSME to access credit worth 2
lakh Crores.
ECONOMIC GROWTH-
GDP COMPARISION
CURRENT YEAR(2022-2023) 2021-2022 2020-2021
• The economy is • Annual growth • The annual
expected to grow rate growth rate
at 7 per cent for accelerated to was 6.6%
the year ending 8.7%
March 2023.
GDP PER CAPITA
COMPARISON
CURRENT YEAR(2023) 2022 2021
• Per capita income • Per capita GDP • It was
doubled in India reached 1968.769
to Rs.1.97 Lakh. 2320.403 USD USD in
in March 2022. March
2021.
WHY IS INDIA ABLE TO
ACHIEVE SUCH 7% EVEN
AFTER COVID-19WHEN OTHERS
ARE IN RECESSION?
• We have our own agriculture sector
which is very strong while others
imported agriculture.
• Our 70% population is in rural areas
where COVID impacted less.
• Our aggregate demand is more.
SUSTAINABLE DEVELOPMENT
ANALYSIS WITH G20 PERSPECTIVE
• In g20 Summit India’s focus was more on green growth,
cleaner, green and bluer future or green development.
• In Budget 2023 also, government to promote green
growth-
a) Launched “PM PRANAM”- will incentivize states/UTs to
promote usage of alternative fertilizers.
b) 500 new “waste to wealth” plants- established in
#GOBARDHAN scheme.
c) “MISHTI” for mangrove plantation along the coastline.
d) “AMRITDHAROHAR” for optimal usage of wet lands.
e) Funds for replacing old polluting vehicles.
f) Promotion of coastal shipping for energy.
g) Promotion of battery storage systems.
h) Setting up 10000 bio-inputs resource
centres-to facilitate farmers to adopt
natural farming.
i) Atmanirbhar Clean Plant Programme to
improve availability of disease-free quality
planting material.
CAN INDIA AFFORD TO GO ON
NATURAL FARMING EVEN
AFTER SRILANKA’S
CONDITION?
• Citing the SriLanka’s crisis, Niti Aayog member Chand said that Adoption of
natural farming should not be done in fashion like SriLanka (which banner
fertiliser use). However, without compromising India’s food security, by 2030
India can afford to have natural farming in 30% area.
• Himachal Pradesh has taken lead in natural farming and showed its model of
natural farming.
• India can double area of chemical free farming to 15% immediately.
• Chemical farming is responsible for global warming to 24%.
• Exports has reached to more than 7000Cr. and market for organic products
reached to 11000Cr. due to Organic Farming encouragement.
• It is a cost-effective method which will increase employment and rural
development.
INFRASTRUCTURE SECTOR
AGRICULTURE
SECTOR
• Start-ups for rural and agricultural enterprises will be funded by NABARD.
• Farmers will receive substantial benefits from the usage of Kisan Drones
for crop assessments, spraying of insecticides and digital land records.
• Agriculture credit- Rs. 20tn. With emphasis on dairy, fisheries and animal
husbandry.
• Agri-startups by young entrepreneurs will be supported by launch of
Agriculture Accelerator Fund.
• PM Matsya Yojana- targeted investment of Rs. 6000 Cr. – to enable
activities of fishermen, vendors and micro and small businesses, increase
the efficiency of value chain and broaden the market.
• Empowering 10mn. Farmers to switch to natural farming.
• Assist farmers in storing their produce and obtaining fair prices through
timely sales, a sizable decentralised storage capacity will be set up.
• To encourage state and union territories to use alternative fertilizers,
PM PRANAM will also be introduced.
• Rs. 2516 Cr. Investment to start computerising 63000 Primary
Agriculture Credit Socities(PACS).
• The Indian Institute of Millet Research, Hyderabad, will be supported as
Center of Excellence for Sharing Best Practices, Research, and
Technologies at International level to make India a hub of “Shree Anna”.
CAPITAL EXPENDITURE AND ITS
IMPACT
• Current capital expenditure- Rs. 10 lakh Cr.

• Previous capital expenditure(2022-23)- Rs.
7.28 Cr.
• IMPACT-
1. more connectivity.
2. Improve supply chain.
3. Help improve productivity.
TOURISM SECTOR
• Lesser allocation than other sectors- Rs. 2400 Cr.

• Upto 50 tourist destinations, an app for tourists, and retail outlets
for handicrafts to be developed.
• Incentivising domestic tourism for middle class, announcing
sector-specific skilling and entrepreneurship development to
achieve objectives of the Dekho Apna Desh Initiative.
• In another scheme, the Vibrant Villages Programme, tourism
infrastructure and amenities will be facilitated in border villages.
EDUCATION SECTOR
TAX SLABS- NEW TAX REGIME
• Upto Rs. 3 lakh- 0% tax

• Between Rs. 3 and Rs. 6 lakh- 5% tax
• Between Rs. 12 lakh and Rs. 15 lakh- 20% tax
• Above Rs. 15 lakh and above- 30% tax
• Basic exemption limit is hiked from Rs. 2.5 lakh
to Rs. 3 lakh.
• Rebate under section 87A has been hiked to Rs.
7 lakh from Rs. 5 lakh.
• Highest Surcharge rate reduced from 37% to
25% in new tax regime.
IMPACT OF LOWERED TAXES
DIRECT TAX INDIRECT TAX

• It will improve the income of • Producers can invest
the consumer. The demand this saved money in the
will increase and it would lead
to increase in production. It production processes to
would ultimately lead increase production.
increase in economic growth.
WHERE MONEY COMES FROM?
• INCOME TAX(15%)
• UNION EXCISE DUTIES(7%)
• CORPORATION TAX (15%)
• GST AND OTHER TAXES(17%)
• BORROWING AND OTHER LIABILITES(34%)
• NON-TAX RECIEPTS(6%)
• NON- DEBT CAPITAL RECEIPTS(2%)
• CUSTOMS (4%)
WHERE RUPEE GOES TO?
• PENSIONS(4%)
• OTHER EXPENDITURES(8%)
• STATES’S SHARE OF TAXES AND DUTIES(18%)
• FINANCE COMMISSIONS AND OTHER TRANSFERS(9%)
• CENTRAL SECTOR SCHEMES(17%)
• DEFENCE(8%)
• SUBSIDIES(7%)
• CENTRALLY SPONSORED SCHEMES(9%)
• INTEREST PAYMENTS(20%)
THANKYOU

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BUDGET

• Opportunities for Citizens with focus on Youth.

• G20 summit focused more on sustainable development or green growth

• Current capital expenditure- Rs. 10 lakh Cr.

• Lesser allocation than other sectors- Rs. 2400 Cr.

• Upto Rs. 3 lakh- 0% tax

DIRECT TAX INDIRECT TAX

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